By William Gullotti
Buffalo, N.Y., May 10 – Citigroup Global Markets Holdings Inc. priced $1.22 million of autocallable phoenix securities due May 22, 2024 linked to the common index of Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8.55% if the index closes at or above its 80% coupon barrier on the related quarterly observation date, including any previously unpaid coupons.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the index finishes below the 80% barrier, in which case investors will lose 1% for each 1% decline from initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable phoenix securities
|
| Underlying index: | Nasdaq-100 index
|
| Amount: | $1,215,000
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| Maturity: | May 22, 2024
|
| Coupon: | 8.55% annualized, payable quarterly if the index closes at or above coupon barrier on the relevant determination date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless the index finishes below barrier, in which case 1% loss for each 1% decline from initial level
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any quarterly valuation date
|
| Initial level: | 13,259.13
|
| Coupon barrier: | 10,607.304; 80% of initial price
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| Barrier: | 10,607.304; 80% of initial price
|
| Pricing date: | May 5
|
| Settlement date: | May 10
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17331HJT4
|
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